Real estate commissions are negotiable. But be aware that you get what you pay for. In this market you need to do everything right to get your house sold. That means your house has to be "parade ready", it has to be priced ahead of your direct competition and the commission has to "incentivize" buyer agents to sell your house.
Average days on the market for homes in WIlmington is between 150-160 days. Most reputable agents will require at least that much time in a listing agreement if not more.
Phil said it aptly.
And as always in life you truly get what you are paying for, that's just the way it is....
Listing contract time, just one advice, in today's market in most if not all areas of the country, market time for
properties for sale is much longer than in years before, therefore it would be very normal for an Agent to ask
for a one year listing agreement with automatic extension unless you cancel in mutual agreement, because
homes are usually much longer on the market. That does not mean that the agent will not do all and everything in their power to sell your home, but there are just not enough ready and willing and financially approved buyers out there, more homes than buyers, we are in a buyers market, they can select the best at the lowest price..... So as a Seller be patient and discuss with your trusted Realtor, if you have a truly wonderful relationship, great communication and constant good market feedback from your Realtor, stay with him or her, and trust that really only the right buyer for your home has to come along, sooner or later.
Now your Realtor can of course suggest many different things, make great brochures, open house events
internet marketing at its best, but may be also you need to do some....... Like painting a few walls in modern
updated color schemes, change a floor in a room, paint or replace the entrance door, remove wall paper,
create a very attractive curb appeal..... and I am saying not major things, just things that are relatively inexpensive and effective, sometimes just uncluttering the home, staging it, removing or moving furniture to
show a larger more spacious home. Of Course I do not know yours so the above items are just generalized.
Good Luck a happy 2012
Edith YourRealtor4Life~! and your Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, buyers, sellers and investors alike....
Edith Always goes the X-tra Mile with a Smile for her clients!
Referrals of your friends, family and acquaintances are always highly appreciated
Too often from the seller's perspective, I get introduced after they have listed with an agent who limps through the marketing process and the home was over priced. Now the owner has a scarred home. All the current potential buyers have passed on it and the new ones are wondering what is wrong with it causing it not to sell.
If the buyer's agent will not or does not explain the situation, the home will get minimal activity.
Ask your agent what the marketing plan is to see how prepared they are to help you avoid this pitfall.
Century 21 Sweyer
The time of year may also depend on how long an agent will want to list a home. If I take a listing in the slower months (Nov., Dec., Jan.) I will usually want a longer time to list the property.
You need to pay attention to what kind of marketing that agent pays for and figure to spend accordingly on commission. There are a lot of agents who will stick a sign in the ground and HOPE someone will come along and they are usually more than happy to charge less. Then there are the full time agents who pay lots of marketing avenues to make sure your house stands out in the places buyers are more likely to look. Expect to pay a little more for better and faster service! :)